Eight Public Enterprises Default on Tk 184 Crore Loans to State Banks

India’s removal of the $550 per tonne minimum export price (MEP) and reduction of export duty on onions is impacting Bangladesh’s kitchen markets. In Dhaka’s Shyambazar, Indian onion prices dropped by Tk 4 to Tk 5 per kilogram, now selling at Tk 95-96 per kg. Although no new shipments have yet arrived, wholesalers anticipate further price drops once new consignments come in. Onion prices at retail have fallen slightly, from Tk 100-115 per kg to Tk 100-105 per kg.

Four days before the fall of the government, Bangladesh Bank granted a two-year loan repayment extension to the Bashundhara Group for its debt with National Bank. As of August 31, Bashundhara's loan with National Bank amounted to BDT 3,844 crore, surpassing the legal limit by eight times. The central bank allowed this extension despite their policy typically restricting such extensions to one year. The loan was already BDT 3,859 crore, with direct loans at BDT 3,844 crore. The extension was requested in April and approved in July, right before the government’s collapse on August 5.

An investigation by the Bangladesh Competition Commission (BCC) has revealed that several leading bottled water manufacturers inflated their profits by up to 420% by raising the price of 500ml bottles from Tk15 to Tk20 between January and September 2023.

Gold prices in Bangladesh are set to rise to approximately Tk 130,000 per bhori (11.664 grams) following a 2.8% increase from the previous rate of Tk 126,321 per bhori. This new price, advised by the Bangladesh Jewellers' Association (Bajus), reflects the higher cost of pure gold.

PRAN-RFL Group, a leading business conglomerate, has signed a Memorandum of Understanding (MoU) with LafargeHolcim Bangladesh Limited (LHBL) to promote sustainable waste management for non-reusable materials. Under the agreement, non-biodegradable and non-recyclable waste from PRAN-RFL's food products will be managed at LafargeHolcim's Chhatak plant in Sunamganj, preventing environmental pollution. PRAN-RFL operates three recycling plants with a capacity of recycling 40,000 tonnes of waste annually.

The double impact of flash floods in the southeast and drought-like conditions in the northwest has significantly affected Aman rice cultivation in Bangladesh, raising concerns about national food security. Last fiscal year, Bangladesh achieved its highest Aman rice production at 16.65 million tonnes, with 5.4 million hectares cultivated. This fiscal year, only 5.2 million hectares have been covered so far.